Question

At what precent will r.s.10000 amount to r.s.15000 in two years assume simple interest?

Answer 1

The percentage is 25%

Answer 2

Rate of interest (R) = 25%

Step-by-step explanation:

Given:

Principal(P) = 10,000

Amount = 15,000

Number of year(T) = 2 years

Rate of interest (R) = ?

Computation of Rate of interest :

Amount = Principal + Simple Interest

15,000 = 10,000 + $\frac{P \times R\times T }{100}$

5,000 = $\frac{P \times R\times T }{100}$

5,000 × 100 = 10,000 × R × 2

500,000 = 20,000 × R

25% = R

Rate of interest (R) = 25%

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